That it's official, I am on the US 1st ever $1,000,000,000 (TRILLION) dollar bill!
Yup, I just got the word today, and man, I am so proud of myself! I was in shock when President Obama AND Treasury Secretary Paulson...I mean Guithner called and asked my permission. Since I'm on massive pain killers, I said YES!
PLEASE keep this under wraps, you guys and gals are the 1st to know this TOP SECRET info, and the Fed wants to keep it quiet til its unveiled. So, shhhhh!
I knew I could trust you!
OK, so I'm on FOX Business TV Friday around 2 pm, I was supposed to be on today but was preempted by the President (aren't they silly?). Stay tuned, I may just unveil the 1st Trillion Dollar bill! Tune in!
A few people (a bunch) asked me to comment on the Fed's move yesterday. You should know my stance, I think they continue to make every move I predicted, and it's all wrong. Thing is, if every other country wasn't just as screwed as we are, the US Dollar right now, and I mean RIGHT NOW would be worthless.
Who the hell is dumb enough to buy their own currency? That's what 3rd world countries do. That's what Zimbabwe does! We are clearly sacrificing the future for instant gratification, and the pity is, it won't even work in the short run (maybe it'll work in the very short term). This was perhaps the main reason we are in this mess, and here we go recreating it under the guise of saving the economy. It's absurd in my opinion.
You can not have any integrity of your money if you are buying it yourself! That's ridiculous! Yet, that's what we are doing.
ALL of this would have been and would be skirted had we nationalized the banking system. It's insane what they are doing. INSANE.
There ya have it, my simple opinion. The stock market very well may go higher, for now, but if you recall I said that the only way the DOW is over 5000 this year is if they devalue the dollar. That's exactly what they are doing. It's a total con job, like many other things they do. So, the idea is to make those $1 MIL homes stay selling at $1 MIL, but to do that they know they have to devalue the currency. If the US Dollar is worth 70% of what it is now, then that $1 MIL house may sell at $1 MIL, but the owner is only getting $700,000 in real money terms.
Instead of allowing the market to fall organically, they are artificially keeping it propped up, and at the same time they are destroying wealth and savings for EVERY American.
Anyone who thinks this is good and they have things under control is going to be very sad when they realize the truth, that the US Dollar today is worth at least 20% less then it was 2 days ago.
'Nuff said.
Watch X, CLF and commodities for further upside potentially and watch me on FOX Friday!
RULE!
WAxie
9 comments:
So if they continue to devalue the dollar and it looks like they will continue... the dow could see 10,000 this year and shorting this market is out of the question ? except shorting the dollar and long oil... Is this a change in your target of dow 4500...or lower to 2500 ?
hehe...hope you have an excellent performance with the $1,000,000,000 note in the show...pity I cannt watch it live in China...but will do that from the youtube later...
regarding the crazy action from the Helicopter, those creditor countries will curse the US government more. A big portion of 30 years accumulated wealth by the hard working Chinese people in US dollar reserve is on the way to toilet paper, let alone a big sacrifice in the enviornment and social harmoney. I donot attribute this to the US government but the stupid communist government. They never really purchased any hard assets in the past but the US dollars. It is the time to "enjoy" the consequences now...By the way, Michael, what is ur opinion of GOLD at this moment? U still think it will plunge first or it will soar from now? Really like the articles here and good luck to U.
Hi Waxie,
if USD gonna depreciate greatly, that will make US assets very unatractive to foreign investors! China will be complaining their T-Bills investments has shrank.
Over longer term, I don't see market going much higher.
Rgds
Roy
I was on some good STUFF too when I had my wisdom teeth pulled out ...real good stuff so enjoy while it lasts lmao . Just kidding get better .
Good job on FBN! But did I hear one of the hosts call you Craig?
Nice bit on FOX. Good to see you up and around after that nasty encounter with "idiocy on wheels"; I mean the vehicle what hit you.
Be well.
By the way, CLF had a sweet little run yesterday; I was able to cut my losses by 60%. Sweet!
Ed in Napa, CA
Waxie where are you came back !!! lol lol...men get better !!
Waxie,
Just a quick note to let you know that I'm now absolutely positive that I couldn't have kept my accounts functioning without your selections and direction. If it wasn't for your experience, wisdom and knowledge being available, I think I would just give up and stay in hibernation until all the turmoil and political unrest somehow slows back down to what we we're used to in years gone by. Thanks for your blog and the option pick of the week! If it wasn't for your support, I would be thinking I must be the crazy one and all these other emotional stock market participants must know soo much more than I do, perhaps I should find another less frustrating way to spend some of my retirement rather than try to increase what we have to a point where we can perhaps make a positive difference in the lives of our grandchildren and neighbors. You really are our guiding light. How you will be well enough soon to hurry back and keep us out of trouble. Up 500 yesterday. Who knows what today brings. We miss your confident messages!
Regards, murf
Hello, we need Waxie back!!!
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